Hershey warns of Halloween treats shortage

Image source, Getty Images

Hershey has warned that there will be a shortage of sweets over the Halloween holiday.

The firm will not be able to fully meet consumer demand according to the chief executive.

The firm has been hit by the Ukraine war challenge and the Pandemic.

The Swiss food giant put up its prices again because of the high costs.

During a call after Hershey's latest earnings, Ms Buck said the company had found it more difficult to secure ingredients because of the war.

Russia has cut gas supplies to Germany and the EU is trying to limit its energy imports, which is affecting Germany, where Hershey sources equipment and supplies.

The tough decision was made because Hershey's everyday and holiday products use the same lines.

We had the chance to deliver more Halloween, but we couldn't. She said that they were actually producing.

It's an important time for Hershey around the Halloween holiday. It accounts for a tenth of the company's annual sales, as adults and children stock up on Kitkats, Twizzlers, and Reese's peanut butter cups.

After Hershey reported better-than- expected earnings, Ms Buck commented.

The firm's net sales increased by over 20% to $2.37 billion in the three months ending July, which was better than the market's expectations.

Cost pressures are being faced by companies.

In the first six months of the year, the company increased prices by 6.5%.

Mark Schneider said price increases were made to limit the impact of inflationary pressures.

You could also be interested in that.